Bharat Forge reports Q4 net profit of ₹205.4 crore; revenue rises over 48%
Premium- The revenue from operations rose 48.4% YoY to ₹1,307 crore.
Bharat Forge on Friday reported a net profit of ₹205.4 crore for the quarter ended March as against net loss of ₹73.3 crore reported in the same quarter last year. The revenue from operations rose 48.4% to ₹1,307 crore as compared to ₹881 crore in the corresponding quarter of the previous fiscal.
The board recommended a final dividend of ₹2 per share. 'Recommended a final dividend of Rs. 2/- per equity share of the face value of Rs. 2/- each (at the rate of 100%) for the financial year ended March 31, 2021, subject to approval of the Members of the Company at the ensuing Annual General Meeting. The final dividend for the financial year ended March 31, 2021, if approved by member, will be paid on or after August 20, 2021,'' the company said in an exchange filing.
MORE FROM THIS SECTIONSee All
"The year has ended on a strong note with sharp recovery visible in all our end markets. Q4FY21 has witnessed a 26.2% growth in sales on back of 43% growth in exports, which is now witnessing growth in all key segments. Despite cost inflationary pressures, EBITDA% has increased by 310 bps,'' Baba Kalyani, Chairman & Managing Director said.
''As we enter FY22, we are seeing robust demand continue in major segment in the export business. The lockdown in India to curtail the spread of Covid has clearly had an impact on demand & production in the automotive sector. We are optimistic that this weakness is temporary in nature and we will witness growth in India as business activities normalize,'' he added.
Shares of Bharat Forge were trading around 8% higher on the BSE after the earnings release.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!